sensex weekly forecast report
sensex daily chart analysis
sensex on last trading session on friday closed at 20103 with gains.on daily chart last move was reversal signal.on chart sensex weekly average is 20017 and that will be first support on downside.below that 19792 is month average support and in last 19320 si 3 month average support.
so sensex short term trend is super bullish and next week may expect 20300 to 20450 levels on upside.while on downside 19800 remain major support and trailing stoploss for all longs.
momentum indicators also given reversal buy signal in last trading session.
sensex weekly chart analysis
sensex on weekly chart showing negative closing this week.on weekly chart sensex major medium to long term supports levels are deep down at 18800 to 17800 range and this remain support base.while momentum indicators still bullish and hold buy signals.
for medium term traders or swing traders sensex target revised to 20700 while on downside 12890 remain weekly/3days closing basis stoploss.
sensex forecast for 28 jan to 1 feb 2013
sensex trend and momentum for all time periods are up so follow the trend and keep long positions.
for next week short term traders can expect 20300 to 20450 on upside while on downside 19800 remain strong support and stoploss level.
while medium to long term traders trail there stoploss to 19890 and expect 20700 in next 3-4 weeks??